“A short list of the bids from banks was made, of which we are to choose three lead managers. The Finance Ministry received 23 offers from investment banks interested in brokering the Eurobond issue,” Andrei said.

One of the bids came from Deutsche Bank, according to the head of the lender’s local branch, Radu Zaciu.

Major international banks that were previously involved in Romanian Eurobond issues are Deutsche Bank, JP Morgan, UBS, Citi Bank, ING Bank, Credit Suisse First Boston, and EFG Eurobank. Most Eurobond issues were brokered by JP Morgan (2001, 2002, and 2003).

The cost of the loan will be established by market conditions, according to Andrei. “We are constantly monitoring evolutions on the foreign markets. On August 12, Romania could have borrowed funds at an interest rate of approximately 6.4 percent,” he said.

Between 2001 and 2008, Romania attracted some €3.25 billion from foreign markets through Eurobonds.